Home Equity Loans

Home Equity Loans are fixed-rate loans. Rates are as low as 7.340% APR and are based on an evaluation of credit history, CLTV (combined loan-to-value) ratio, loan amount, and occupancy, so your rate may differ. A sample Fixed-Rate Equity Loan monthly payment based on $100,000 at 7.650% APR for 20 years is $814.79. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Navy Federal will pay for all closing costs on new Fixed-Rate Equity Loan applications dated on or after June 1, 2023. Covered closing costs include lender fees and fees paid to third parties, such as settlement fees, credit reports, flood determinations, property valuations (including appraisals, if required), title searches, lender’s title insurance, recording, mortgage transfer taxes, and government charges. For loan amounts of up to $250,000, closing costs that members may pay typically range between $300 and $2,000. The member is responsible for escrow payments and/or prepaid costs, if required, including property taxes and assessments, homeowners’ and flood insurance premiums, association fees/dues and assessments, and prepaid interest. You must carry homeowners’ insurance on the property that secures this plan. All loans subject to approval. Offer is subject to change or cancellation without notice.

Home Equity Lines of Credit (HELOC) are variable-rate lines. Rates are as low as 8.750% APR and 9.750% for Interest-Only Home Equity Lines of Credit and are based on an evaluation of credit history, CLTV (combined loan-to-value) ratio, line amount, and occupancy, so your rate may differ. HELOC has a minimum APR of 3.99% and a maximum APR of 18%. Members who choose to proceed with an Interest-Only HELOC may experience significant monthly payment increases when the line of credit enters the repayment phase. Navy Federal will pay for all closing costs on HELOC applications dated on or after June 3, 2024. Covered closing costs paid to 3rd parties include settlement fees, credit reports, flood determinations, property valuations (including appraisals, if required), title searches, lender’s title insurance, recording, and government charges. The member is responsible for prepaid interest and escrow payments for 1st lien HELOCs. Member must carry homeowners’ insurance on the property that secures the HELOC. For loan amounts up to $250,000, closing costs typically range between $300 and $2,000. Applications for a HELOC include a request for a HELOC Platinum Credit Card. All loans subject to approval. Offer is subject to change or cancellation without notice. Rates are subject to change. HELOC loans are not available in Texas.

Some restrictions may apply. Factors that may impact the amount of equity that can be borrowed include evaluation of credit history, CLTV ratio, occupancy, loan amount, and loan term (5, 10, 15, 20 years).

Navy Federal offers the option to decline the included Home Equity Line Platinum Credit Card and/or to request checks to access funds.

Some restrictions may apply. The maximum CLTV for primary and second properties is 95% and for investment properties is 70%. Factors that may impact the amount of equity that can be borrowed include evaluation of credit history, CLTV ratio, occupancy, and loan amount.

The views expressed in the reviews are solely those of the individuals posting them. The testimonials are substantively the words of the individual reviewer, but may have undergone minor clerical revisions to ensure readability, add context, or protect private information. Any imagery displayed is for decorative purposes only and is not necessarily associated with the reviewer.